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 Why isn’t the value of an asset adjusted as themarket value of that asset...

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Accounting

 Why isn’t the value of an asset adjusted as themarket value of that asset changes?

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Valuation of an asset as per books of account is primarily defined by GAAP which states the measurement basis for different types of asset Some types of assets typcall financial instruments are fair    See Answer
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In: Accounting Why isn’t the value of an asset adjusted as themarket value of that asset changes? Why isn’t the value of an asset adjusted as themarket value of that asset changes?

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these eere only half correct